Today, Dutch wellness and cosmetics brand Rituals announced that its revenue increased by 22% in 2023, reaching 1.7 billion euros. This growth was primarily driven by the thriving beauty and health market, with strong performance in Europe, particularly in the German and French markets.
According to publicly available information, Rituals was founded in 2000 and is one of the first brands in the world to combine body care with home fragrances. The brand’s founder and CEO, Raymond, stated that Rituals is currently the fastest-growing beauty brand in Europe.
CHAILEEDO has learned that the brand opened its official WeChat account in China in 2019 to strengthen its connection with Chinese consumers. In 2022, Rituals entered the CDF Hainan International Duty-Free City. Currently, the brand has official online stores on Tmall and WeChat Mini Program and has opened three offline stores in Shanghai and Nanjing. It is worth noting that in 2023, Rituals accelerated its expansion in Asian countries. The brand has already entered Hong Kong and opened stores in Kuala Lumpur, Malaysia, and Thailand.
In 2023, the brand’s online sales increased by 20%, and 200 new standalone stores were opened. By 2024, they expect to add another 250 stores, with 30 of them located in Asia, aiming for a revenue target of 2 billion euros.
During an interview with Chinese media in September 2023, Raymond stated plans to open 15 to 20 stores in major cities such as Hong Kong, Kuala Lumpur, Singapore, Bangkok, and Tokyo within the next three years. The brand also intends to expand rapidly and enter other regions in China.
